British businesses are missing out on billions in overseas trade

British businesses are missing out on billions in overseas trade because post-Brexit Remainer ‘negativity’ has convinced them it’s too difficult

• Business secretary Kemi Badenoch said there were ‘too many negative tropes’
• She urged businesses to take advantage of ‘many resources’ to boost exports 

British businesses are missing out on lucrative overseas trade because of ‘too many negative tropes’ about how difficult it is, an MP has claimed.

Business secretary Kemi Badenoch said businesses need to stop talking themselves down and realise there were ‘many resources’ out there to help with exporting goods to other countries.

Speaking at the launch of the UK’s first E-Commerce Trade Commission, she said: ‘We need a change in perception of exporting and how we talk about it. 

‘There are too many negative tropes about how difficult it all is. And I think that there are lots of people who would be exporting who don’t do so because that’s all they hear.

‘I think we’ve created a uniquely British cultural aspect around business – I don’t see it in other countries I go to – of talking ourselves down. Of “oh this isn’t really that good” and “of course it’s not going to work”.

Business secretary Kemi Badenoch (pictured, centre) said businesses need to stop talking themselves down and realise there were ‘many resources’ out there to help with exporting goods to other countries

READ MORE: Britain signs its biggest post-Brexit trade deal: UK is accepted into Trans-Pacific Partnership

The e-commerce taskforce aims to encourage 70,000 more British businesses to trade and export digitally within two years and help boost the economy by £9.3billion. 

Ms Badenoch added: ‘And we do get this from this sardonic humour that we have; but actually we are discouraging people indirectly from going out there and doing things because all they’re hearing is that it’s too tough. It isn’t too tough. There are many resources that are out there that can help.

‘So something that I think we should be doing is talk about all the new things that one can do, that are happening and just change the perception around exporting for all of those businesses.’

Only around ten per cent of UK firms currently export overseas, according to recent figures. The UK has a Government-set target of achieving £1trillion a year in exports by 2030. 

The commission will aim to help the UK’s small to medium firms to capitalise on recently signed post-Brexit trade deals including those with Australia and the CPTPP.

After removing the effects of inflation, total annual UK exports last year were 3.1 per cent lower than in 2018, according to ONS figures.

The e-commerce taskforce aims to encourage 70,000 more British businesses to trade and export digitally within two years and help boost the economy by £9.3billion. Pictured: Business secretary Kemi Badenoch

The e-commerce commission has been brought together by the Institute of Export and International Trade and will be chaired by its Director General, Marco Forgione. Board members will include Amazon, Alibaba and Google.

Mr Forgione said: ‘The E-commerce Trade Commission is a unique opportunity to make positive changes that truly support small British businesses and comes at an important time for the UK. 

‘Buying goods online has fast become the norm for consumers and UK businesses have the opportunity to take advantage of new trade agreements being signed by the Government’.

In March, Britain signed into the Trans-Pacific Partnership, opening up trading opportunities with a market of 500million people.

The deal is expected to add £1.8billion to the UK’s annual GDP over time and will be a major boost to exporters.

Rishi Sunak said the deal ‘demonstrates the real economic benefits of our post-Brexit freedoms’ and would put the UK ‘in a prime position in the global economy to seize opportunities for new jobs, growth and innovation’.

Rishi Sunak (pictured) said the UK being accepted into the Trans-Pacific Partnership ‘demonstrates the real economic benefits of our post-Brexit freedoms’

The Trans-Pacific Partnership, formally known as the CPTPP, currently comprises 11 economies, including Australia, Japan, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, Brunei and Vietnam.

The grouping has a combined GDP of £9trillion – a figure that will rise to £11trillion when the UK formally joins next year, accounting for around 15 per cent of the global economy.

Officials said it would provide a significant boost for exporters in sectors including food, drink and cars. 

More than 99 per cent of UK goods exports to member states will now be eligible for zero tariffs, including products such as cars, machinery, cheese, chocolate, whisky and gin.

But farmers have warned they could be hit hard if ministers open up the agriculture sector to major producers such as Canada too quickly.

And trade unions have warned against any deal which would dilute workers’ rights. TUC general secretary Paul Nowak branded the agreement ‘dire’.

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